This list is packed with top quality companies, many of which have sustainable competitive advantages. Home Depot (HD) caught my attention right away since we have recently been discussing its relative valuation to Lowe’s (NYSE:LOW). I’ve also notice Fifth Third Bancorp (FITB) has been on this new lows list repeatedly over the past week or so. I am not very familiar with this company but I plan on learning more. The New York Times (NYT) is in a declining business, but at some point its stock could get cheap enough to be worth buying this world class brand.

Seeing Progressive (PGR) on this list makes me wonder if Buffett’s GEICO is out-competing its younger rival as a result of potentially more disciplined insurance pricing. I think I remember Buffett questioning the underwriting practices of GEICO’s rivals. Finally, I noticed both Walgreens (WAG) and Rite Aid (RAD). Could Wal-Mart’s (NYSE:WMT) aggressive entry into the pharmacy sector with $4 prescriptions be the cause of these new lows for Walgreens and Rite Aid? Is the market overreacting?